October 15th, 20190Security services raided the St Petersburg office of Transas yesterday, seeking access to the company’s Transas Navigator databases. The Federal Security Service (FSB) was widely reported to have launched the raid on the facility, which is now owned by Finnish firm, Wärtsilä. Transas, which makes marine navigation systems and...
September 27th, 20190Gas infrastructure along Russia’s Northern Sea Route is set to get a Japanese upgrade with news Mitsui OSK Lines (MOL) and the Japan Bank for International Cooperation (JBIC) have signed a cooperation agreement with Novatek to develop LNG transhipment projects in Kamchatka and Murmansk. The projects will construct floating storage...
September 18th, 20190Sergey Frank will step down from his position of CEO at Russian state-owned shipowner Sovcomflot. Frank will be installed as chairman of the the board, making way for current Sovcomflot vice president Igor Tonkovidov to be appointed as the new CEO. The change was announced by the office of deputy prime minister Maxim Akimov...
September 13th, 20190Sovcomflot and NYK Line have sealed a new $176m credit facility which will be used to refinance LNG carriers Grand Aniva and Grand Elena. The eight year facility, with Sumitomo Mitsui Banking Corporation, Société Générale, and Shinsei Bank, includes the adoption of provisions for the banks to comply with the Poseidon...
September 6th, 20190Russian owner Fesco has entered into a partnership agreement with Chinese companies Best Ship Energy Management and Zhejiang Rui Neng Ocean Shipping to jointly develop intermodal transportation of LNG in tanker containers from Russia to China. FESCO will develop logistics schemes for transporting tank-containerised LNG from the...
September 4th, 20190Russian gas producer Novatek has entered into a joint venture agreement with Sovcomflot to create a shipping joint venture. Under the agreement, the two parties intend to create a shipping company with the potential involvement of other joint venture participants. The joint venture will focus on managing the construction and...
July 29th, 20190Sovcomflot’s board of directors has heeded the will of the government and placed orders for three high tech product tankers on home soil. The three LNG-fuelled ships will be built at Zvezda Shipbuilding Complex and will then go on a 20-year charter to compatriot Novatek. Sergey Frank, president and CEO of Sovcomflot, commented:...
July 26th, 20190In a similar tit-for-tat maritime spat to the ongoing tanker showdown between the UK and Iran, Ukrainian authorities revealed yesterday they have seized a Russian tanker called moored in a port along the Danube near the Black Sea. The move by the local security services is in retaliation for Russia’s seizure of three Ukrainian vessels...
June 11th, 20190An explosion occurred onboard a tanker at Port of Makhachkala in Russia today, killing two people. According to report by Sputnik, the explosion came from the engine room of the 2013-built 7,000 dwt tanker when the vessel was near the No.4 pier of the port. Initial reports said five crew were injured in the incident and another...
June 10th, 20190China's Arctic Silk Road ambitions are becoming reality. Russian state-run shipping major Sovcomflot and energy firm Novatek signed an agreement with Chinese state-run shipping conglomerate Cosco Shipping and Silk Road Fund to establish joint venture Maritime Arctic Transport at the St Petersburg International Economic Forum on...
